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4 bedroom commercial property for sale

Refurbishment / Investment Double Unit - Victoria Road, Scarborough, North Yorkshire YO11 1SH

Sold by Us £140,000

Property Description

Full description

Tenure: Freehold

Double town centre property currently arranged as a single large retail unit on the ground floor plus two self-contained and separately accessed flats on the upper floors, now in need of some refurbishment but once in a good and lettable condition could generate a total of approximately £22,000 per annum when fully let. The shop unit is approximately 940 sqft in total with partitioned store rooms and toilet facilities and is located at the top end of Victoria Road near to Scarborough town centre, the train station and lots of other neighboring retail units. Both flats are a generous size with one having a 15 ft bay fronted lounge, spacious kitchen and a roof terrace, but does require a full scheme of refurbishment. The other flat is in reasonable condition and would only require some minor repair works to put it back into a lettable state. This property provides a great opportunity to acquire a town centre investment at an attractive price, which following a scheme of works could produce three separate income streams and a decent return on investment.

THE PROPERTY: The property is a pair of terraced units with the ground floor having been made into a single large double unit, and then with 2 x two bedroom flats on the upper floors. The ground floor shop unit extends to approximately 940 sqft and includes a retail area, store rooms and toilet facilities. The shop unit is in poor condition and would benefit from being stripped out and repaired to create a fresh large retail unit. On the upper floors there are two flats, one is in reasonable condition and only requires some minor repairs to get it to a rentable condition. The other flat is in poor condition and requires a full scheme of refurbishment and modernisation, but is a spacious flat that also has a roof terrace. Following a scheme of refurbishment it is thought the flats would let for approximately £450 pcm, and the ground floor shop unit could rent for approximately £11,500 per annum, giving a total projected rental income of £22,300 per annum.

THE PROPERTY: The property is a pair of terraced units with the ground floor having been made into a single large double unit, and then with 2 x two bedroom flats on the upper floors. The ground floor shop unit extends to approximately 940 sqft and includes a retail area, store rooms and toilet facilities. The shop unit is in poor condition and would benefit from being stripped out and repaired to create a fresh large retail unit. On the upper floors there are two flats, one is in reasonable condition and only requires some minor repairs to get it to a rentable condition. The other flat is in poor condition and requires a full scheme of refurbishment and modernisation, but is a spacious flat that also has a roof terrace. Following a scheme of refurbishment it is thought the flats would let for approximately £450 pcm, and the ground floor shop unit could rent for approximately £11,500 per annum, giving a total projected rental income of approximately £22,000 per annum.

LOCATION: Standing in a prominent location at the top end of Victoria Road near to the police station, train station, Stephen Joseph Theatre and forming part of the town centre inner loop. Neighbouring properties include Cash Convertors, Aldi super market, estate agents, hair and beauty salons, cafe's and a convenience store.

TENURE: The property is freehold and will be sold with vacant possession.


BUSINESS RATES: The ground floor shop unit has a Rateable Value of £8,800.
Both flats are Council Tax Band A (1,095.37 per annum).



VIEWING: Viewings are to be arranged via the sole agents Colin Ellis Commercial 01723 363565.

EPC RATING: E

COMMERCIAL DISCLAIMER: Unless otherwise stated, all prices and rentals quoted are exclusive of any VAT to which they may be subject. Specific enquires should be made of the vendor/landlord for clarification prior to entering into any arrangement or agreement. These particulars are a general outline only, for the guidance of prospective purchasers or tenants and do not constitute the whole or any part of an offer of contract. Colin Ellis Property Services cannot guarantee the accuracy of any description, dimensions references to condition, necessary permission for use and occupation and other details contained herein and prospective purchasers or tenants must not accept as statement of fact or representation and must satisfy themselves as to their accuracy. The reference to any plan, machinery, equipment, devices, fixtures, or fittings at the property shall not constitute a representation unless otherwise stated as to the state or condition or that it is capable of unfulfilling its intended function. Prospective purchasers/ tenants should satisfy themselves as the fitness of such items for their requirements. Colin Ellis Property Services will not be liable in negligence or otherwise nor anyone arising from the use of these particulars. No employee of Colin Ellis Property Services has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property.


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